Global Augmented and Virtual Reality Market will witness a CAGR of 65.7% through 2022

Global Augmented and Virtual Reality Market is projected to reach $59,511 million by 2022, with a CAGR of 65.7% from 2016 to 2022. Augmented reality is a technology that uses the existing users’ environment and overlays the digital or virtual content or information over it. Augmented reality applications are developed on special 3D programs that enable developers to integrate contextual or digital content with the real world. While virtual reality is a computer-generated 3D environment - which completely immerses end users in an artificial world without seeing the real world.

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Factors such as increased popularity of augmented and virtual reality technology in various industries; cost-efficient benefits of augmented and virtual reality technology-based solutions; and rise in a number of gaming population are projected to drive the market growth. However, lack of infrastructure and investment in research & development activities are anticipated to hinder the market growth.

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The report includes the study of the augmented and virtual reality market focusing on various growth prospects and restraints, based on the regional analysis. The study highlights Porters Five Forces analysis for the market that comprises the impact of suppliers, competitors, new entrants, substitutes, and buyers.

Augmented reality is a technology that uses the existing users environment and overlays the digital or virtual content or information over it. Augmented reality applications are developed on special 3D programs that enable developers to integrate contextual or digital content with the real world. While virtual reality is a computer-generated 3D environment which completely immerses end users in an artificial world without seeing the real world.

Expansion in gamer community; rise in popularity of augmented and virtual reality solutions and services; increased awareness among end users about benefits of augmented and virtual reality solutions are projected to drive the augmented and virtual reality market growth during the forecast period. However, lack of infrastructural development and high prices are projected to limit the market growth to some extent during the forecast period.

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